Ipswich won the battle for the state's second store, but it could soon be followed by a third.

During today's announcement Costco Managing Director Patrick Noone hinted at plans for a third massive warehouse at Logan, although he was tight-lipped on subject.

He said opening a warehouse in Logan would allow the giant to capture customers in the south of the region, in the same way the Ipswich store will service the western side of Brisbane.

For now, Mr Noone and Costco are focused on their Ipswich warehouse, expected to be finished in the second half of 2018.

"We are thrilled to be continuing our investment in South East Queensland with this new location in Ipswich," Mr Noone said.

"We have been trading in North Lakes since 2014 with great success and are excited to be bringing Costco to a dynamic, ever growing region.

"We will continue to actively engage with our Queensland based suppliers, look to recruit over 280 staff from the local area and bring great prices in relation to a wide range of products and services."

The Costco store will offer two types of membership: Business ($55) and Gold Star ($60).

Business members qualify by owning or operating a business while Gold Star membership is available to individuals. Members can join online or in store.